Paradigm mulls Honister Capital acquisition
Paul Hogarth, founder of Paradigm Partners, is preparing to launch a bid for Honister Capital, reports suggest.
The deal could see Paradigm take control of Honister Partners, Burns-Anderson, Sage Financial Services and direct-to-consumer business Willis Owen.
A Honister spokesman says: “During the run up to the RDR it is not surprising that rumour and speculation regarding merger and acquisition activity is increasing. We are focusing on our strategy and building a strong business, not market rumour.”
Paradigm declined to comment.
According to Honister’s trading figures, the group made an operating profit of £468,000 in the six months to March 31 this year, down from £2.2m in the six months to March 31, 2010, due to profits from execution-only arm Willis Owen.
The advisory businesses, which include Burns-Anderson, Sage Financial and Honister Partners, made a combined operating loss of £710,000, compared to an operating profit of £1m in 2010. Willis Owen made an operating profit of £1.18m, down slightly from £1.2m in 2010.
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